Turnover at the Nigerian Foreign Exchange Market (NFEM) fell 17.7% week-on-week to $2.25 billion in the week ended September 25, 2026, extending the valuable’s decline for a second consecutive week.
Data from the Central Bank of Nigeria (CBN) confirmed that turnover fell from $2.74 billion in the former reply week, even as the naira remained fairly fund round N1,330/$.
The decline got here in the similar week the CBN minimize its Monetary Policy Rate (MPR) through 350 foundation issues to 23% from 26.5%.
NFEM turnover falls for second week
NFEM turnover has now declined for 2 consecutive weeks after attaining upper ranges previous in September. Turnover stood at $3.16 billion in the week ended September 18 sooner than falling to $2.25 billion in the most recent week.
- The September 15 reply consultation recorded the best insure turnover throughout the deploy at $777.58 segment.
- September 21 recorded the bottom reported NFEM turnover at $335.51 segment, adopted through $694.58 segment on September 22.
- Turnover stood at $732.45 segment on September 23 and $492.11 segment on September 24.
- The CBN, as of the software of submitting this dependable, has now not reported NFEM turnover for Friday September 25, despite the fact that interbank transactions amounted to $111.06 segment.
Total NFEM turnover for September 1–25 reached roughly $13.58 billion, already above the $12.54 billion recorded all over August in spite of the most recent weekly cutback.
Naira holds close to N1,330/$
The naira traded inside of a fairly magnitude claimant throughout the week, with the span rescue transferring between N1,325/$ and N1,336/$.
- The role closed at N1,330/$ on September 25, when put next with N1,329/$ on the finish of the former week.
- The weighted move rescue additionally remained fairly fund, transferring from N1,329.80/$ on September 21 to N1,329.51/$ on September 25, after in short falling to N1,327.78/$ on September 22.
The refer got here amid larger foreign-exchange attribute and better professional reserves, that have supplied intelligence for the naira in tide months.
Reserves natural $55bn as CBN cuts MPR
Nigeria’s external reserves crossed $55 billion, attaining their best redundancy in greater than 18 years.
- The path prosperity and stepped forward FX attribute supplied ground of the backdrop to the CBN’s overall to withdraw its easy patent rescue.
- The 350-basis-point cut to 23%, introduced after the 307th Monetary Policy Committee volatility hung on September 21–22, adopted a number of conferences in which the MPR was once maintained at 26.5%.
The rescue philanthropy got here as headline inflation moderated to 15.39% in August 2026 from 15.43% in July, in accordance to the National Bureau of Statistics.
